EU Just Finalized Crypto Money Laundering Rules
It’s been just revealed that the EU just finished the crypto money-laundering rules that they have been working on. Check out the latest reports below. New crypto regulation in Europe According to the latest reports comi...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
It’s been just revealed that the EU just finished the crypto money-laundering rules that they have been working on. Check out the latest reports below.
New crypto regulation in EuropeAccording to the latest reports coming from CoinDesk, the European Union (EU) finally agreed on landmark anti-money laundering rules for crypto transactions Wednesday, despite industry concerns over the law harming privacy and innovation.
The final proposals will mean customer identity needs to be verified for even the smallest crypto transfers, if it’s between two regulated digital wallet providers – but payments to unhosted private wallets will largely be left out of laundering checks.
EU lawmakers and government reps have been meeting over the last three months to hash out a political deal on the bill, which was introduced in July 2021 by the European Commission.
Some important trustworthy sources told CoinDesk a deal had been reached on the legislation after just over an hour of talks.
More than that, it’s been just revealed that the EU lawmaker Ondřej Kovařík confirmed the provisional deal in a tweet, saying that it “strikes the right balance in mitigating risks for fighting money laundering in the crypto sector without preventing innovation and overburdening businesses.”
Outside the meeting room, Kovařík told CoinDesk that negotiators had found a “good balance” that would not prevent innovation.
“It will allow the further development of crypto in Europe,” Kovařík said.
Crypto bullish predictionsThe bullish predictions about the price of Ethereum and other important coins are out, despite the market massive volatility. Check out the latest predictions here.
According to the latest reports, the popular crypto analyst Michaël van de Poppe is predicting what might be in store for a trio of popular altcoins.
Van de Poppe said recently that the leading smart contract platform Ethereum (ETH) appears to have decent momentum after rallying back from monthly lows under $1,000 on June 18th and 19th.
The post EU Just Finalized Crypto Money Laundering Rules first appeared on CryptoGazette - Cryptocurrency News.Why this matters
This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CryptoGazetteRelated market context
Coinbase Files to Keep Operating Under Brazil’s New Crypto Rules
Coinbase is now one of the crypto firms waiting on a ruling from Brazil’s central bank, after it applied on Wednesday to be licens...
Binance Hack: Are Funds Safu? What We Know So Far About the Biggest Heist in Crypto History
Cryptocurrency giant Binance faces what could be the largest exchange hack in history after a security breach affected an estimate...
Binance Says $6.3B Hit in Security Breach, $3B Frozen After DevOps Laptop Compromise
Key Takeaways: Binance estimates that it lost about $6.3 billion in the security incident. About $3 billion is already frozen on-c...
DBS Survey Finds 88% of Businesses Testing or Using Tokenized Money
TL;DR: A DBS survey published October 28 found that 88% of businesses in its sample were deploying or piloting tokenized-money use...
HTX Gives the High Court a Five-Year Pledge on UK Crypto Promotions as FCA Case Settles
Crypto exchange HTX, formerly Huobi, has given undertakings to the High Court that it will not knowingly promote crypto services t...
ICE Partners With Trade[XYZ] to Bring $650B Hyperliquid Futures Market to the U.S.
Key Takeaways: ICE and Trade[XYZ] prepare to launch a U.S. perpetual futures market, pending approval from the CFTC. Hyperliquid’s...